All Forum Posts by: Zachary Paul

@Drew Oberholtzer - there has been a lot of new attention in the Germantown area. As you probably know first hand, Northern Liberties, Fishtown, and parts of Lower Kensington have increased dramatically and have been forcing people to look at different markets. 

A lot of the recent sub $200k activity for flips/rehab work has been going on in Brewerytown and South Philly. For some, Germantown is a little too far from Center City to invest in...but there are definitely opportunities there. 

@Yvette Chung - right now there are 3 duplexes in Manayunk that are in the $200-225k range as well as  1 duplex in Bridgeport under $200k. 

Have you talked with a loan/mortgage officer regarding financing options yet? I know that thanks to the low interest rates, owner occupants have been able to get approved for more than they initially thought. 

If you are thinking of areas to consider instead of South Philly, I would suggest Manayunk, East Falls, Phoenixville, and Bridgeport. There are usually at least 5 properties around $200k on the market at a time. 

If you have any questions - feel free to reach out to me; Best of Luck!

@Yvette Chung - welcome to BP, the best source for everything Real Estate Investing online. I love the podcasts and get so much from each and every one. 

I live right outside of Philadelphia and can only imagine the daily commute on 76 you have to deal with to get from South Jersey to KOP. Property taxes are most likely going to be lower in PA than NJ and you will also save $5 on your daily commute from crossing the bridges. 

Without knowing your specific investment criteria, an area I would suggest (between NJ and KOP) for a duplex or multifamily would be either Manayunk area or South Philly. There are not too many duplexes available, but in these areas there are sometimes ones that are under $200k for sale. 

If you have any questions or concerns, feel free to reach out. I'm a licensed real estate agent that covers Philadelphia, Montgomery, and Chester counties - I'm in these markets everyday. 

Best of luck!

@Brandon Bohrer - welcome to Philadelphia - it's an AMAZING region that has a lot to offer real estate investors. 

Everyone on here will tell you that Philly is a block by block city where values, tenants, and ROI can vary greatly block by block - so many different neighborhoods and areas to consider.

If you have any questions feel free to reach out; I'm a licensed real estate agent that covers Philadelphia, Chester, and Montgomery counties. 

Best of luck!

Great post about Philly here. 

If you look at the new development in University City, most of it is high end student rentals and/or short-term corporate housing. The biggest issue I see is that the entry point for a lot of the multifamily properties in University City are easily $350k+ (in areas that are desirable to college students and young professionals). Not sure what kind of criteria you are looking at or type of property, but in my opinion after around 45th Street, the tenant class is vastly different. 

It is crazy how much of a growth mode Manayunk (and even Phoenixville suburb) is facing when it comes to new apartments coming online in late 2016/early 2017. There hasn't been a lot of new rental inventory in these markets, but there are still good opportunities that cash flow in the sub $250k range for investors. 

Overall the Philadelphia region has a lot of great things happening for it (ie. Major colleges/universities, top hospitals, big pharma, and lower cost of living than NYC and DC). 

Best of luck!

@Eli M. - much like others have said in this post, the marketability of the property depends on many things. 

The demand for a 3-4 unit property is obviously going to be less than a single family property however, there are and will always be investors looking at potential opportunities. 

To reiterate what @Joseph Scorese said, in NE Philly, the proximity to public transportation (SEPTA rail or bus) is very important. 

Also make sure you are familiar with the rental ordinances that Philadelphia requires. 

Best of luck!

The City of Philadelphia has been experiencing growth in not only new townhouse developments but also new rental projects as well. 

As many people on BP will tell you, Philly is a city where property values and rents vary block to block. There are several different neighborhoods with their own socioeconomic challenges and potential. 

Right now I can tell you that some of the "hot" neighborhoods that are seeing a lot of new development (both commercial and residential) are Point Breeze, Passyunk, Fishtown, and Brewerytown. 

Obviously everyone has their own investment goals and criteria so it's hard to say which is the "best" or the "hottest" market, but if you have any specific questions - feel free to ask me, thanks!

@Joseph Platyan - I would say the most important thing to do is to look at the numbers. Without knowing specifics, your estimated rent versus total costs seems to be good (~$500 monthly cash flow less any repairs and insurance). What a mortgage lender will look at is what your total income is versus total expenses. Most lenders will account about 75% of potential rent as income as well. 

In my opinion it would be a good way to start a real estate portfolio, especially with the 7 year tax abatement (less expenses and more profit). 

I'm a licensed real estate agent covering Philadelphia, Montgomery, Chester, and Delaware counties - feel free to reach out if you have any questions or concerns. Best of luck!

@Alex Benazet - a lot of what I'm seeing when it comes to first time rentals and/or house hacks that are making sense financially in the city are in South Philly. Have you spent any time in Newbold, Point Breeze, or Passyunk? 

I've also worked with investors in Manayunk as well...not sure if that would be too far out for you. 

Unfortunately most of the stuff in Northern Liberties and Fishtown are either going very quickly or are prices $400k+ (new construction townhouses $650k and up). 

@Shelley Iocona - welcome to BiggerPockets - the best website online for everything about real estate investing! I highly recommend listening to the weekly podcasts - very informative. 

Philadelphia is a great city/region and I have been seeing a lot of great things happening not just in the real estate market, but also with the cultural influence and infrastructure of the region. 

I'm a real estate agent covering Philadelphia, Montgomery, and Chester counties; if you ever have any questions or concerns, feel free to reach out. Best of luck!